The Dollar index rallied to two-year highs in early N.Y. trade on Thursday, with gains coming on the back of safe-haven flows into the Dollar as a result of ongoing trade war concerns. Weakness in May flash manufacturing and services PMIs later prompted a sharp round of profit taking related USD selling, resulting in the DXY’s fall to one-week lows. EUR-USD printed two-year lows of 1.1106, later rallying to 1.1187 highs. USD-JPY was under pressure through the session, falling to 109.50 from over 110.10 at the open. Risk-off conditions weighed on the pairing.
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